May 29, 2015

In Canada, as in many other places around the world, governments are turning once again to austerity policies in order to reign in public spending believed to be out of control.

These cuts, however, are usually done in vital social programs, such as health care, education, social housing and unemployment benefits.

The victims of austerian economics are often the disenfranchised and the unemployed, whereas those who benefit from austerity invariably tend to be wealthier Canadians, through reduced tax rates and, in Canada specifically, through a panoply of boutique tax policies such as the recent doubling of tax-free savings accounts and income splitting.